Rallis India Q2FY23 PAT up 25.9% at Rs71.05 crore on the back of stable growth in sales revenues

24 Oct 2022 , 07:32 PM

Rallis India Ltd reported 30.69% growth in total revenues for the September 2022 quarter on consolidated basis at Rs951.18cr.

Revenue growth was 10.25% in sequential terms. The company, which is part of the Tata group, is mainly into the agrochemicals business and largely caters to the agricultural sector in India.

Cash from operations in the quarter dipped to negative in the first half of FY23 due to a sharp spike in trade receivables.

That almost doubled showing pressure on collections and problems in funding working capital needs.

Consolidated Profit after tax (PAT) for September 2022 quarter was up 25.89% at Rs71.05cr on the back of stable sales and operating costs.

The company had worked on its input sourcing which ensured that supply chain issues did not catch up with them.

PAT margins were flat at 7.47% in the Sep-22 quarter compared to 7.75% in the Sep-21 quarter but lower than 7.82% in June 2022 quarter. The business model of Rallis is largely seasonal in nature and tends to fluctuate with the vagaries of the weather and cropping patterns.

Financial highlights for Sep-22 compared yoy and sequentially

	Rallis India
Rs in Crore	Sep-22	Sep-21	YOY	Jun-22	QOQ
Total Income (Rs cr)	₹ 951.18	₹ 727.80	30.69%	₹ 862.78	10.25%
Net Profit (Rs cr)	₹ 71.05	₹ 56.44	25.89%	₹ 67.47	5.31%
Diluted EPS (Rs)	₹ 3.65	₹ 2.90		₹ 3.47
Net Margins	7.47%	7.75%		7.82%